IS ROBERT KIYOSAKI A FRAUD?
It’s been a busy week and a funny week too because I was given the chance to join in a great business “
READERS/BUYERS BEWARE of Robert Kiyosaki’s RICH DAD, POOR DAD.
My view on Robert Kiyosaki, the Rich Dad, Poor Dad Guru, changed after reading an online article about him and his link with AMWAY.
THE GOOD IN MY OPINION:
It’s a good book to shake a person up not to rely on companies to take care of them especially now when pensions and health benefits are being attacked by companies that are having financial problems. Also, it’s a good STARTING book for someone who is interested in setting up a business.
THE BAD IN MY OPINION:
1st Rob’s bashing on education. Education is a very important aspect of a person’s life both financially and as a part of society. Statistically people with college degree earns more than people that are non grads in their lifetime. Doctors, Scientist, Lawyers, Business Executives and Specialized Engineers are some of the most highly paid people in the world. Education is not only a benefit financially it’s also a benefit socially where people get to be educated on economies, environment, science, philosophy, etc. etc.
2nd Rob’s pimping of creating your own business. This is not that bad in a sense BUT remember, NOT EVERYONE can handle taking care of a business. 90%-95% of business’ FAIL within 10 years (info from some financial books I read a year back). Having your own business is also not a means that will get you rich. Example, you open your own store that earns a profit of 40-50K a year. You have to pay for your own benefits such as medical, retirement and life insurance. You also have additional overhead such as electricity, water, inventory, etc. etc. While a fresh grad of business or computer related field can earn 40-50K a year where the company will provide Medical, 401K, etc. etc.
I think he’s pimping creating your own business because he’s involved with Multi Level Marketing(AMWAY), His audio book “The Perfect Business?” contains nothing but pimping MLM as if it’s the becoming of the new business model. Saying that it act as if you really own your own business because you sell their products and get people onboard with you when if fact they just sell their product to you so whether you sell it or not doesn’t matter much to them because they already got their profits and they now have a steady stream of income coming from YOU and your downline.
3rd There are a lot of contradictions that Rob said. The RDPD says that he brought companies public but on the Guide to Investing he said that he have not brought a company public. So What’s What? Did you or didn’t you?
Liar Liar pants on fire BIAOTCH!
He’s only getting money from his books and his seminars where he’s pimping his products too LOL! He’s not a Trump, Buffett, Graham, Dell, Gates or Walton.
It has been my gut feeling that he really didn’t get rich because of his business ventures or investments but rather on selling his books, this could actually be true. I wish I saw this link before Here’s a link of the analysis on Robert Kiyosaki.
INTERVIEW WITH THESTREET.COM where he says he's retired since '94 but until now he's doing seminars for $20/person I think, and selling his books in those seminars too. Not that rich yet huh! Just full of contradictory statements.
I’d listen to Suze Orman rather that Robert K. Though Suze also just pimps her products too and doesn’t really give great advice to make money IMO. All she says is save, kill your debt, invest in something (she doesn’t even give specifics on what to invest in too), pay additional money on your mortgage…blah, blah, blah, but I’ll take her "TRUE" content than Robert Kiyosaki’s.
WHY I don’t like MLM:
I don’t like them PRIMARILY because of their methods of acquiring “DISTRIBUTORS.” They say you can earn this much and that much and you’ll be free and have so much money and time that you can retire early. That’s all BS. The ones that get rich are the ones on top because they provide the products and the downstream buys them for the full price. I bet I can find the same products whether they are vitamins, makeup, clothes, etc. cheaper somewhere else.
YOU WILL NOT BE A MILLIONAIRE BY DOING MLM. YOU WILL SPEND A LOT OF TIME DOING MLM TOO IF YOU WANT TO MAKE GOOD MONEY FROM IT. You DON’T OWN the business even if they tell you it’s like “Franchising”, it’s not and far from it. The owners and head honchos of the companies such as AMWAY/QUIXTAR, etc. etc. will get rich NOT THE REGULAR JOE LIKE YOU OR ME.
They should just SAY IT FOR WHAT IT IS. They have a product to sell and you sell it for them, that’s it, the way to make money is to either sell your product OR get some people to sell it for you and to sell your stuff to those people. YOU WILL NOT GET RICH BY DOING THIS unless you’re on TOP and get a large chunk of commissions or part of the management team that handles the channels.
THAT IS WHY I LOVE LISTENING TO ROB BLACK. He’s our bay area financial expert that has a show on KRON4 at 10AM PST and radio show at 5:00PM PST on some radio or on this link (online radio show): http://universaltalknetwork.com/listen.htm
Rob Black is a great financial guy because he tells it straight up, no BS. He’s not out there to sell stuff to your face, in his seminar he actually told us NOT to buy his book because we might already know what’s in it and he recommended us to buy Ric Edelman’s “The Truth About Money” because he said that it’s a better book than his. His seminars are also only $5 a pop and all of it is given to charity too. Why he gives all to charity, because he's rich already, he made all his money in the stock market.
FOR YOUR INFORMATION!
We are not in any way shape or form millionaires yet. We are your average JOE, we are also not highly paid individuals, we are not Doctors or Lawyers or in a profession where we get SIX figures in salary. We have only followed good advice concerning various investments from books and going to seminars of those people that already made it. People who have made it don’t have to pimp their products or books to you so you should watch out for those who sell you’re their stuff on seminars that you attend. AND you don’t need that many books and products to buy in order to set yourself up to become financially free.
So why am I "attacking" Robert Kiyosaki? NO I'm not jealous of him, we also want to be "wealthy" and retire early, and our first steps were reading and researching which is what people normally do. But then why be misled by someone who didn't get rich by investing and creating a great business? It's dangerous to take advice based on his book, I feel sad for the people who just keeps on buying his products and keeps on making HIM rich instead of themselves. I'd like to also help other people with the same goals as we have and help them not to be mislead by the Robert Kiyosaki's of the world.
We have 2 houses in the